Equities Sustain positive Trajectory on Tuesday at the NSE

Equities closed in the gain territory similar to the previous session with all major indices trending north on higher turnover.

Safaricom Plc (NSE: SCOM) was the highest traded counter driven by foreign buys pushing the counter’s price higher by 3.9 percent in Tuesday’s session.

Cooperative Bank of Kenya Ltd (NSE: COOP) was the second mover of the day accounting for 19.4 percent of the total traded with locals driving both ends of the counter’s trades.

All the top movers closed higher at price in the session. Shareholder value went up by 50.7 billion depicting positive reaction by investors to the Supreme Court ruling which upheld the 26th October Presidential results.

Foreign investors dominated market activity albeit at 18.0 percent lower than in the previous session, accounting for 51.9 percent of the total market activity.

Safaricom Plc (NSE: SCOM) exuded major buying interest from the desk while accounting for 35.3 percent of foreign trades.

East African Breweries Ltd (NSE: EABL) came second with 26.59 percent of foreign trades exuding selling activity. Barclays Bank of Kenya Ltd (NSE: BBK) recorded the highest net outflows of 30.4 billion shillings in the session with the desk exiting the counter for the third session in a row.

Foreign investors sold off Equity Group Holdings Plc (NSE: EQTY) in the session after being net buyers on the counter in the previous session. Foreign investors were overall net buyers in the session for the fourth session in a row after 8 successive sessions of net selling activity.

The bond turnover levels increased by 68.2 percent in the session to 1.43 billion shillings on 32 deals from 0.85 billion shillings on 22 deals previously.